China Market extends gain

The Mainland China share market finished higher for second session in row on Wednesday, 23 June 2021, on the back of gains in shares of non-ferrous metal and coal companies on supply concerns as safety inspection by authorities halted production at some mines.

At closing bell, the benchmark Shanghai Composite Index was up 0.25%, or 8.81 points, to 3,566.22. The Shenzhen Composite Index, which tracks stocks on China's second exchange, added 0.79%, or 18.97 points, to 2,427.38. The blue-chip CSI300 index advanced 0.49%, or 25.23 points, to 5,147.39.

China's state planner said it and the market regulator have recently sent teams to various areas to look into commodities prices and supplies and would learn about mid- and downstream companies' situations.

 

CURRENCY NEWS: China yuan declined against the dollar on Tuesday after weaker mid-point fixing by central bank. Prior to the market opening, the People's Bank of China (PBOC) set the midpoint rate CNY=PBOC at 6.4621 per dollar, weaker by 8 pips than the previous fix of 6.4613. In the spot market, onshore yuan CNY=CFXS was at 6.4802, down by 70 pips from the previous late session close.

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